Ranking the Largest U.S. Banks: Capital One Climbs to No. 6

Once again there was no change among the top five. But after that, there was a lot of movement. Capital One moved up one spot to No. 6, thanks to its acquisition of ING Bank FSB completed last month. Capital One ranked ninth at the end of 2010.

HSBC, which had ranked fifth at the end of 2010, fell to eighth last quarter. HSBC’s assets shrunk by $44.4 billion as a result of two sizable sales last year.

The largest gains in the rankings belonged to UnionBanCal, Charles Schwab Bank and First Republic Bank. Each moved up by two spots.

The biggest drops quarter-over-quarter were at Hudson City Bancorp, Synovus Financial, OneWest Bank FSB and First Horizon National, which each fell three spots.

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